tv Leaders with Lacqua Bloomberg June 18, 2016 4:30am-5:01am EDT
>> it has designing masterpieces from other hundred 20 years. it all started with a point left home in lebanon went to america to make history come true. four generations later they continue that tradition. time now for these highfliers to join us on the singapore flyer to tell us how the heritage lives on. >> welcome to highfliers. he was the fourth generation. you always knew you were going to be in the business. you took the trip you look at
the minds you explored all of the different diamonds from an early age. >> the story being fascinated all the time throughout my improvedears has been tremendously. working, started side-by-side in the uncle, robert. i had the opportunity at that part ofause being the family and the financial situation. and the availability of funds. the royal families and people in the region. it allowed me the process that only to travel with them and learn about that.
also to be able to go back to the largest that are available. there was tremendous need for such storms. fred, you are in the family but not necessarily in love with the whole business. we were working for the family business but moved out because you didn't want to be in your dad's a shadow. >> i grew up watching my dad by gemstones. i liked what he did. up in thee a going early days we used to sole diamonds in our factories. we grew up watching our father by gemstones and manage his business. we grew up in the factories. it is not until i started studying. i understood the science.
my appreciation for gemstones increase. >> they agree. i don't my own portfolio. it's only because i wanted to build my own organizations. working in the family business can be difficult. my father i think is a genius. it was really managing his entire business in a very centralized manner. entrepreneur what i wanted was to leave my mark. the best way to that was to leave the family business. i got into the food service business. we all across southeast asia.
startup that is a collaboration platform. i've built seven different companies. when my father said it was time to hand over the business from the third-generation to the fourth generation, i am grateful for having the experience outside the family business and building my own ventures. i learned a lot of lessons i could not have learned being in the family business. haslinda: it was always your first love. by was an exciting business for you? jean: it takes millions of years to have a diamond. to be able to have in your hand those special colors of diamonds, it's a very special feeling. i feel the vibration of stones. i am fascinated by them. it's something that grew in may
because of the passion of my uncle. you understand the beauty of stones. haslinda: how much inspiration did you get? it was your great-grandfather who started the business back in beirut. they were specializing in jewelry and watches as well. what an notes have been passed down that lived with you today? fred: your biggest asset is not necessarily your inventory, the diamonds that you have. it is your reputation. your reputation allows you to source diamonds and cultivate your relationship with suppliers. with your reputation, you can service your clients and take
care of them. unless you have a great reputation in the business, your inventory is illiquid. integrity is at the core of what we stand for. that's why we are the three brothers, we consider ourselves guardians. we guard the values our forefathers have built. we have transferred that over to us. it is our job to consider that heritage on the principles that we were taught. haslinda: is it important that it stays a family business? your daughter is in the business as well.
is it important to stay in the family? jean: it should continue. we do have the responsibility to ensure that it goes from one generation to the other. by doing that, by continuing to nurture that belief that what we have is very unusual, i don't know many international companies in the business that have been in business for 125 years and are still expanding and going strong. haslinda: we all love diamonds. before purchasing a diamond, what is the one thing people should know? jean: they need to find out what is it that is the thing for them? what shapes? what color? other people are into size or quality. in asia, there is a demand for higher quality stones. in the united states, they may go for the larger size rather than the quality. haslinda: who has the better i were diamonds between the two of you?
jean: i like to think that we learn from each other. it's a learning process. we never stop learning. the firm belief of the group and the education has the -- donating and contribution to the expansion of education worldwide and making people better understand and better judge diamonds. the g.i. certificate is the most renowned certificate. prices of diamonds are based on these certificates and evaluations. that is the firm belief of education.
even when we talked in asia or worldwide, it's much easier to be able. we offer these services. we sit with customers. we explained to them about diamonds. explain what makes this diamond more expensive than another. you could have two stones that are the same weight and same shape. all it takes is for one of them did the price could be up 50%. education is very important. customers need to be able to ask questions. >> coming up. ♪
haslinda: we talk about diamonds. is one more important than the other? jean: they are all equally important. we have something that is important that we refer to as the x factor. i'm sure you have heard that this diamond is triple x. that refers to quality, the grade, the polish. all of these components affect the price tremendously. that affects the way the diamond shines and looks. haslinda: there is a new trend? they may not be the stone that women are after now. they are open to other colored stones. jean: we have witnessed the need for different colored diamonds. we have a lot of stones besides the ruby, emerald, and sapphire.
there is a beautiful blue color. there is an orange color. these are very popular now, especially in asia. we have a tremendous demand for these stones. haslinda: when we talk about your clients, it's a who's who all over the world. when it comes to requests, what is the one requested has been difficult to fulfill? the most challenging requests so far? fred: the ones that i recall that happened just a few years back was a very important royal wedding. it was two different countries. it was a marriage of royals. we want to offer a custom design. we made a lot of different designs. the client picked a design with over 200 carats.
haslinda: that's 200. fred: we had been going back-and-forth for several weeks. the only thing we need is to deliver in seven days. as you can imagine, it would take three or four months. we had to do the impossible. we had 15 of our top craftsmen work on the set. they worked twentyfour seven. in the end, we were able to deliver. haslinda: what set you apart? jean: it's important that when you have your own factory you have the skills and the facilities to produce his pieces. from the time you designed the
pieces and put them into production in two different segments, you can produce and monitor the quality and ensure that quality control is in place. you can deliver the best piece of possible. haslinda: you are responsible for the diamond studded bras worn by victoria's secret models ranging from $2 million to $12 million each. jean: we are trying our best to expand our reputation in the market and trying to come up with things that are unusual, challenging, manufacturing something that you can make studded with diamonds and colored stones. it's not as easy as people would think. we wanted to create something in collaboration with victoria's secret that was special. fred: it's about innovation and creativity.
my brother nurtured that relationship. we have done the broth for about eight years. we have become adept at understanding the requirements and building unique pieces that requires a particular skill. we like it. it's different. haslinda: talk to us about what people are after. jean: the latest that we have made will be show showcased in singapore. it has been flown in for the event. this is something we have been doing for the last seven or eight years. we are doing something special. this year, we will have some very exceptional pieces. we are bringing that in.
they are ranging 2 to 15 carats. that is something we are very looking forward to showcasing in october. when it comes to exceptional pieces and places to show around, we are constantly trying to come up with new things and produced some special pieces. haslinda: is that why you're showcasing your best pieces? that's a lot of money. jean: i'm happy to report the emerald necklace we have showcased in singapore before doing the jewelry show is called the esmeralda. it sold. there are people who are looking for very special items. i don't know if i should have said this or not. we are very happy. there are constant requirements for very special pieces.
it's not about money. haslinda: are diamonds a good investment? fred: you may buy slightly higher. it depends where you buy it from. it might be a bit more challenging. if you buy an exceptional diamond and you buy from a reputable jeweler, it's likely that over the long-term fee value is going to appreciate. we have seen that in colored diamonds. over time, prices have gone up. it is a scarce resource. there is a limited supply. there will be a demand for these exceptional diamonds. >> coming up. fred: we presented it he got interested. ♪
haslinda: i would like to talk about the historic collection. we have the jubilee which is 200 carats. you have your own favorites. fred: my favorite is the 218 carat. haslinda: more than 200. fred: that diamond is 219 carats. it is the largest diamond in the world. haslinda: is this something that was presented to him? fred: we presented it and he got interested. the diamond spoke to him. [laughter] haslinda: love, love. how about
you? jean: there are many. if i wanted to name one, it would be the splendor. it's because of the shape. it it's an 11 cited pear-shaped. -- sided pear-shaped. it's 101 carats. i remember the first time i had the stone in my hand, i did not want to let go. it is so beautiful. haslinda: why is it important for the family to have a private collection? what is significant of that. fred: we buy in manufacture diamonds and cell phone. -- sell them. it's important for us to have a collection handy for our customers. it can happen at any point in time. when royalty calls us and says show me what you have in your inventory, we have to be ready. we have exceptional gemstones in our inventory.
one of them is a ruby that i am very fond of. it's magnificent and exceptional. it speaks to me. it's a beautiful gemstone. jean: it's exceptional. haslinda: 125 years, where'd you go from here? jean: it's only the beginning. we should consider striving and getting to higher horizons. we can reach more countries worldwide. we are continuing with our perseverance to produce fine quality and to be able to bring affordable prices. fred: that's an important shift in our strategy. we went to monobrand.
we used to carry a lot of swiss watches. we offered them to our clients. after my father handed over the organization, we wanted to become the brand. we wanted to offer our products. we have our own watches. we are investing in our own movement. we're manufacturing in-house and switzerland. we're launching the watches in the next few months in they are all under our brand. haslinda: can you compete with the companies that are already established? fred: of course we can. we have a loyal customer base. our customers trust are in. -- our brand. they are open to getting different products it is that of coming to our store to buy other watch brands, they come and
trust our own product line. haslinda: you are both committed to the business. how are you outside the diamond world? what don't we know? jean: that's a good question. i would like to think that i am a simple person. i enjoy being with friends. i like being outdoors. i like to travel a lot. i like to experience new people. that's one of the things i really enjoy. i do jogging once in a while. it's the best time to think. there are a number of ideas you only get while you are jogging. haslinda: i'm guessing you're thinking about your next venture? fred: it's all about impact. i really want to make an impact.
i want to make the world around me a better place in i look at my sphere of influence and i try to improve around me. that includes me. i am very keen on education and self-development and i like to see continuous progress. it's about how we can move ahead and become better. how can we make a better impact on the world. that's what drives me. haslinda: gentlemen, it's been such a pleasure having you on "high flyers." thank you. ♪
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